Intellectual Property is Critical to Job Creation
Today, the White House hosted a jobs summit meant to discuss how to protect current jobs and prevent further losses. In light of this, I would like to point to a sector that has continuously supported jobs in the United States: the intellectual property sector.
- Jobs in intellectual property-intensive industries were expected to grow faster over the next decade than the national average. (Robert J. Shapiro and Nam D. Pham, "Economic Effects of Intellectual Property-Intensive Manufacturing in the United States," World Growth, 7/07)
- Counterfeiting and piracy have resulted in the loss of hundreds of thousands of jobs in the United States. (U.S. Customs and Border Protection)
- The auto industry could hire 250,000 additional workers in the sale of counterfeit auto parts was eliminated. (U.S. Federal Trade Commission)
- Movies, music and books created and copyrighted by American artists and writers are seen, heard, and read every day in every country and are responsible for nearly 5.4 million U.S. jobs.
- Absent motion picture piracy, 141,030 new jobs would have been added to the U.S. economy. Of this total, 46,597 jobs would have been created in the motion picture industries while 94,433 jobs would have been added in other industries. ("The True Cost of Motion Picture Piracy to the U.S. Economy," Institute for Policy Innovation’s Center for Technology Freedom, 9/06)